Attending the course and successfully completing the post-assessment, will grant you
4 hour/s verifiable CPD, recognised by the various
professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc). Please note that the
CPD certificate will only be issued once the post-assessment has been completed.
Web Based (Online)
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gillian@probetatraining.co.za
In order to assess for risks as part of a financial statements audit, one needs to understand the makings of a business. This will include learning about the entity, its environment / industry, legal framework, employee structure, nature of transactions and the internal controls that keep everything together.
You understand a business per ISA 315, so that you can more easily point out what areas of the financial statements are likely to contain misstatement. These very areas will be what is risky in a financial statements audit.
ISA 315 will be simplified relative to the following aspects:
• Identifying what you need to understand better about an entity and its environment, and therefore what you need to document
• Understanding your responsibility around internal controls, their design and implementation, whether you need to do walkthroughs / test controls
• The effect of risks on the audit approach, and how to identify and assess risks
